How To Successfully Make Money On Ebay
Ebay is a gigantic marketplace where millions and millions of buyers and sellers from all over the world come together to buy or sell something. A shopper can surely find what they want on ebay and at the same time get it at a bargain price. A seller on the other hand can save a lot of cost just by selling their items on ebay.
If you are interested in making money on ebay successfully, this article will be of great help to you. If you are considering on whether to start selling on ebay, I urge you to stop considering and start selling. Because there is money to be made with ebay!
So coming back to the question, How to successfully make money on ebay?
It is not as easy as getting your products cheap and listing it on ebay at a higher price for profits! There are of course many other factors to consider. I assume you already know how to list items on ebay.
Here are a couple of questions to yourself when you’re deciding to list an item for sale on ebay:
1. Are you sure the product is hot and popular?
Hot products matter most when you’re trying to make money from ebay. When the product is popular, there will be a lot of interested buyers looking for it on ebay. This also means more business for you.
Finding popular products can be as easy launching your web browser to Ebay pulse. Just type in Ebay pulse into your favorite search engine, hit enter and you will be able to see the links to Ebay pulse. At Ebay pulse, you will be able to find hot products in various categories that are selling well on ebay.
Once you have decided to sell a hot or popular item, the next thing you will need to do is look at the price variation in the ebay market place. Just to get a rough idea of how much interested buyers are willing to pay for that particular item. Also, start looking for suppliers and distributors of that item.
To find suppliers and distributors for that particular item seems easy because all you have to do is type in “Product name suppliers”, “Product name wholesalers”, “Product name drop shippers”, and so on in your favorite search engine. But the truth is, it is not all that easy to find the right supplier! When you are looking for the right supplier, here is another question to ask your self!
2. Are you sure you are getting the lowest price for that product?
Getting the lowest price of that product you are interested in selling on ebay is important because the difference between the supplier’s price and the market price on ebay is your profits!
How to get the supplier to quote you the lowest possible price for the item you’re interested in? Here’s how the trend works! The higher the quantity of the order, the cheaper it gets per unit. Almost everyone knows this! However, please beware that there is a certain trick to get suppliers to reveal the lowest possible cost per unit for that item. What you need to do is, ask how much the item cost per unit first.
Once you have got a response quote, tell him or her that you need it cheaper please! The person you are talking to will most likely respond by saying how many units would you like to order? This is when you respond with a made up figure like 10 units per week or something around there. The supplier will then give you a lower quote of the item per unit. As soon as you get the lowest unit price from the supplier, I urge you to check with other suppliers dealing with that same item as well. You will be surprise at how cheap you can get the product for.
After comparing the price given by a few suppliers for that particular product you are interested in selling on ebay, choose the one who is giving you the lowest price per unit.
Now go back to the ebay market place, search for that particular product you are interested in listing on ebay and get the difference between the market price and the price you are getting from your potential supplier. That difference will be your profits! If you are happy with that figure, contact that supplier and start making arrangements before listing that product on ebay! Just remember, when you are making arrangements with the supplier, do not let the person know how you are selling the product and at what price you are selling it for.
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